PenderFund Capital Management Ltd.
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), PenderFund Capital Management Ltd. reported 107 stock positions worth $223.4 million. Its top holding was Sangoma Technologies (SANG) at 15.9% of the portfolio, followed by Abrdn Physical Platinum SHRS (PPLT, 13.4%) and Par Technology (PAR, 11.1%). Compared with Q3 2024, it opened 44 new positions, sold out of 54, added to 23 and reduced 14. The biggest buy was Abrdn Physical Platinum SHRS (PPLT, shares +100%) and the biggest sale an exit from Nuveen Municipal Credit (NZF).
- Most Recent 13F
- Q2 2026
- Location
- VANCOUVER, A1
- CIK
- 0001706164
- Portfolio Value
- $223.4M (Q4 2024)
- SEC Filing
- 0001706164-25-000001 ↗ filed Feb 14, 2025
Holdings Value
Holdings 107 stocks · $223.4M
| SANG Sangoma Technologies Corp. | 15.88% | 3,548,733 | $35.5M | Add +13.0% |
| PPLT Abrdn Physical Platinum SHRS | 13.36% | 250,000 | $29.8M | Add +100.0% |
| PAR Par Technology Corp. | 11.06% | 236,509 | $24.7M | Reduce -8.3% |
| BUR Burford Capital Ltd. | 6.33% | 771,713 | $14.1M | No change |
| WIW Western Asst Infl-LNK Opp | 5.07% | 953,094 | $11.3M | No change |
| DCBO Docebo Inc. | 4.38% | 151,920 | $9.8M | Add +28.9% |
| LSPD Lightspeed Commerce Inc. | 3.68% | 374,800 | $8.2M | Add +10029.7% |
| Z Zillow Group Inc. Class C | 3.57% | 74,947 | $8.0M | No change |
| NAD Nuveen Quality Municipal Inc. | 2.51% | 335,000 | $5.6M | Reduce -42.7% |
| MRVI Maravai Lifesciences Hldgs-A | 2.03% | 580,300 | $4.5M | New |
| FET Forum Energy Technologies Inc. | 1.98% | 199,122 | $4.4M | No change |
| XNEAX Nuveen Amt-FR QLTY Muni Inc. | 1.92% | 265,000 | $4.3M | Reduce -48.5% |
| MOH Molina Healthcare Inc. | 1.88% | 10,031 | $4.2M | Add +1906.2% |
| CLVT Clarivate PLC | 1.74% | 531,100 | $3.9M | Add +5.6% |
| KW Kennedy-Wilson Holdings Inc. | 1.71% | 265,362 | $3.8M | Add +0.3% |
| KKR KKR & Co. Inc. | 1.65% | 17,320 | $3.7M | Reduce -29.9% |
| HXL Hexcel Corp. | 1.26% | 31,348 | $2.8M | Add +725.0% |
| IBKR Interactive Brokers Gro Class A | 1.14% | 10,038 | $2.5M | Reduce -49.9% |
| TPL Texas Pacific Land Corp. | 1.07% | 1,500 | $2.4M | Reduce -51.9% |
| ERO Ero Copper Corp. | 1.06% | 122,656 | $2.4M | Reduce -10.9% |
| BN Brookfield Corp. | 0.88% | 23,740 | $2.0M | No change |
| MCHP Microchip Technology Inc. | 0.60% | 16,360 | $1.3M | Add +40.3% |
| MKL Markel Group Inc. | 0.56% | 504 | $1.3M | New |
| HHH Howard Hughes Holdings Inc. | 0.48% | 9,600 | $1.1M | No change |
| PPLI People Inc. filed as IAC INC | 0.45% | 16,100 | $998K | No change |
| SMAR Smartsheet Inc. Class A | 0.43% | 11,900 | $958K | Add +197.5% |
| ELV Elevance Health Inc. | 0.43% | 1,800 | $954K | New |
| NOC Northrop Grumman Corp. | 0.42% | 1,400 | $944K | No change |
| GMAB Genmab A/S -SP ADR | 0.42% | 31,100 | $933K | New |
| BARNES GROUP INC | 0.41% | 13,400 | $910K | New |
| LPAA Launch One Acquisition Corp. | 0.39% | 60,000 | $866K | New |
| CDMO Avid Bioservices Inc. | 0.37% | 47,200 | $837K | New |
| ESGR Enstar Group Ltd. | 0.37% | 1,800 | $834K | Add +20.0% |
| ZUO Zuora Inc. Class A | 0.36% | 56,796 | $810K | New |
| MNTX Manitex International Inc. | 0.36% | 96,200 | $801K | No change |
| BCOV Brightcove | 0.36% | 126,900 | $795K | New |
| BALY Bally's Corp. | 0.35% | 30,600 | $785K | No change |
| SBUX Starbucks Corp. | 0.35% | 5,930 | $778K | No change |
| ATSG Air Transport Services Group | 0.34% | 24,300 | $767K | New |
| EVRI Everi Holdings Inc. | 0.34% | 39,600 | $767K | Reduce -12.2% |
| PTVE Pactiv Evergreen Inc. | 0.33% | 29,200 | $734K | New |
| SCWX Secureworks Corp. Class A | 0.32% | 58,400 | $709K | New |
| XWIAX Western Asset Infl-Link Sec | 0.32% | 61,666 | $709K | No change |
| USAP Universal Stainless & Alloy | 0.31% | 10,900 | $688K | New |
| CCRN Cross Country Healthcare Inc. | 0.30% | 25,700 | $667K | New |
| CTV Innovid Corp. | 0.29% | 148,000 | $657K | New |
| ML Moneylion Inc. | 0.27% | 4,800 | $595K | New |
| PFIE Profire Energy Inc. | 0.26% | 161,736 | $591K | New |
| ALE Allete Inc. | 0.26% | 6,280 | $583K | Add +66.1% |
| SUM Summit Materials Inc. Class A | 0.26% | 8,000 | $581K | New |
| AGS Playags Inc. | 0.26% | 34,900 | $577K | Add +24.6% |
| AE Adams Resources & Energy Inc. | 0.25% | 10,496 | $562K | New |
| VMCAF Valuence Merger Corp. I Class A | 0.25% | 33,435 | $554K | Add +31.6% |
| SSYS Stratasys Ltd. | 0.21% | 35,940 | $459K | Reduce -23.1% |
| IMSR Terrestrial Energy Inc. filed as HCM II ACQUISITION CORP | 0.19% | 30,000 | $432K | No change |
| WBS Webster Financial Corp. | 0.19% | 5,363 | $426K | Add +3.1% |
| EMKR Emcore Corp. | 0.18% | 91,297 | $394K | New |
| HLIT Harmonic Inc. | 0.17% | 20,561 | $391K | Add +2.8% |
| HCP Hashicorp Inc. Class A | 0.17% | 7,900 | $388K | Reduce -27.5% |
| ROIC Retail Opportunity Investmen | 0.17% | 15,100 | $377K | New |
| PDCO Patterson Cos Inc. | 0.16% | 8,200 | $364K | New |
| SIMA Sim Acquisition Corp. I-A | 0.16% | 25,000 | $361K | No change |
| VCIC Vine Hill Capital Class A | 0.16% | 25,000 | $360K | No change |
| HTLF Heartland Financial USA Inc. | 0.16% | 4,000 | $353K | Reduce -23.1% |
| AQUC Aquaron Acquisition Corp. | 0.16% | 21,901 | $352K | Add +0.9% |
| PFC Premier Financial Corp. | 0.16% | 9,500 | $351K | New |
| JBL Jabil Inc. | 0.15% | 1,669 | $345K | Add +4.3% |
| AFBI Affinity Bancshares Inc. | 0.13% | 9,200 | $288K | Reduce -33.5% |
| TBNK Territorial Bancorp Inc. | 0.13% | 20,300 | $284K | Add +595.9% |
| HES Hess Corp. | 0.13% | 1,500 | $282K | No change |
| VCSA Vacasa Inc. Class A | 0.12% | 38,800 | $273K | New |
| SILV Silvercrest Metals Inc. | 0.12% | 21,100 | $271K | New |
| JNPR Juniper Networks Inc. | 0.11% | 4,600 | $247K | Add +4.5% |
| LYTS Lsi Industries Inc. | 0.11% | 8,771 | $245K | Add +4.4% |
| CPA Copa Holdings SA Class A | 0.11% | 1,864 | $235K | Add +3.6% |
| BMTX BM Technologies Inc. | 0.10% | 33,400 | $234K | New |
| DMYY DMY Squared Technology GR-A | 0.09% | 13,264 | $202K | No change |
| FYBR Frontier Communications Pare | 0.09% | 4,000 | $200K | New |
| FNF Fidelity National Financial | 0.08% | 2,258 | $182K | Add +7.5% |
| SGRP Spar Group Inc. | 0.07% | 60,900 | $165K | Reduce -29.4% |
| CEP Cantor Equity Partners Inc. | 0.07% | 10,000 | $148K | No change |
| TONT Graf Global Corp. Class A | 0.06% | 10,000 | $145K | New |
| QETA Quetta Acquisition Corp. | 0.04% | 6,195 | $94K | No change |
| PROF Profound Medical Corp. | 0.04% | 9,400 | $94K | No change |
| VOXX Voxx International Corp. | 0.04% | 8,800 | $93K | New |
| AVNW Aviat Networks Inc. | 0.04% | 3,700 | $93K | New |
| EDD Morgan Stanley Emrg MRK Dom | 0.04% | 14,146 | $92K | No change |
| ATEX Anterix Inc. | 0.04% | 2,000 | $88K | No change |
| NXE Nexgen Energy Ltd. | 0.03% | 8,000 | $77K | No change |
| GTLB Gitlab Inc. Class A | 0.03% | 900 | $73K | No change |
| VACH Voyager Acquisition Corp. | 0.03% | 5,000 | $72K | No change |
| FROG Jfrog Ltd. | 0.03% | 1,500 | $64K | New |
| OMIC Singular Genomics Systems Inc. | 0.03% | 2,105 | $59K | New |
| FLR Fluor Corp. | 0.01% | 175 | $12K | New |
| AR Antero Resources Corp. | 0.01% | 240 | $12K | New |
| BBU Brookfield Business PT-Unit | 0.00% | 316 | $11K | New |
| G Genpact Ltd. | 0.00% | 172 | $11K | New |
| DBRG Digitalbridge Group Inc. | 0.00% | 637 | $10K | New |
| DLTR Dollar Tree Inc. | 0.00% | 95 | $10K | Reduce -95.3% |
| RMBS Rambus Inc. | 0.00% | 130 | $10K | New |
| VRSN Verisign Inc. | 0.00% | 29 | $9K | New |
| ITRI Itron Inc. | 0.00% | 50 | $8K | New |
| EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC | 0.00% | 71 | $8K | New |
| XPEL Xpel Inc. | 0.00% | 131 | $8K | New |
| MHO M/I Homes Inc. | 0.00% | 36 | $7K | New |
| PPYA Papaya Growth Opportuni Class A | 0.00% | 100 | $2K | New |
| XEMDX Western Asset Emrg MRKT DBT | 0.00% | 28 | $387 | No change |
Other holdings (22): bonds, preferreds, convertibles and warrants · $242.0M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| FIRST MAJESTIC SILVER (AGCN 0.375 01/15/27) | NOTE 0.375% 1/1 · principal | 37,650,000 | $46.2M | No change |
| REVANCE THERAPEUTICS INC (RVNC 1.75 02/15/27) | NOTE 1.750% 2/1 · principal | 24,950,000 | $34.5M | Add +16.3% |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | 22,000,000 | $32.9M | New |
| SSR MINING INC (SSRMCN 2.5 04/01/39) | NOTE 2.500% 4/0 · principal | 21,987,000 | $30.4M | Add +15.8% |
| EQUINOX GOLD CORP (EQXCN 4.75 10/15/28) | NOTE 4.750%10/1 · principal | 15,999,000 | $25.4M | Reduce -5.5% |
| BANDWIDTH INC (BAND 0.5 04/01/28) | NOTE 0.500% 4/0 · principal | 11,500,000 | $13.3M | Reduce -45.9% |
| BEYOND MEAT INC (BYND 0 03/15/27) | NOTE 3/1 · principal | 58,050,000 | $13.1M | Add +46.8% |
| WOLF Wolfspeed Inc. (wolf 1.75 05/01/26) | NOTE 1.750% 5/0 · principal | 9,929,000 | $12.7M | New |
| CARDLYTICS INC (CDLX 1 09/15/25) | NOTE 1.000% 9/1 · principal | 9,018,000 | $11.7M | Add +100.4% |
| MAGNITE INC (MGNI 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 4,225,000 | $5.7M | No change |
| EVENTBRITE INC (EB 0.75 09/15/26) | NOTE 0.750% 9/1 · principal | 3,500,000 | $4.5M | No change |
| CABLE ONE INC (CABO 0 03/15/26) | NOTE 3/1 · principal | 3,175,000 | $4.3M | No change |
| IRONWOOD PHARMACEUTICALS (IRWD 1.5 06/15/26) | NOTE 1.500% 6/1 · principal | 3,000,000 | $4.0M | No change |
| SUNNOVA ENERGY INTL INC (NOVA 0.25 12/01/26) | NOTE 0.250%12/0 · principal | 2,500,000 | $2.2M | New |
| ACCELERATE DIAGNOSTICS (AXDX 5 12/15/26) | NOTE 5.000%12/1 · principal | 2,045,144 | $1.2M | No change |
| LPAAW Launch One Acquisition - 29 | *W EXP 06/01/203 | 30,000 | $5K | No change |
| IMSRW HCM II Acquisition Corp. - 29 | *W EXP 99/99/999 | 15,000 | $3K | New |
| VCICW Vine Hill Capital Class A-2 | *W EXP 07/01/203 | 12,500 | $3K | New |
| SIMAW Sim Acquisition Corp. - 29 | *W EXP 06/01/203 | 12,499 | $2K | New |
| TONT.WS Graf Global Corp.- 29 | *W EXP 05/31/203 | 5,000 | $1K | No change |
| VACHW Voyager Acquisition Corp. -CW | *W EXP 05/16/203 | 2,500 | $383 | No change |
| LANWF Lanvin Group Holdings Ltd.-27 | *W EXP 01/14/202 | 2,500 | $144 | No change |
Total filed on the 13F, all lines: $465.4M.
Portfolio Sells Q3 2024 → Q4 2024
| NZF Nuveen Municipal Credit Inc. | Sold out | 0.00% | −3.35 |
| NAD Nuveen Quality Municipal Inc. | Reduce -42.7% | 2.51% | −2.55 |
| XNEAX Nuveen Amt-FR QLTY Muni Inc. | Reduce -48.5% | 1.92% | −2.39 |
| ERO Ero Copper Corp. | Reduce -10.9% | 1.06% | −1.08 |
| TPL Texas Pacific Land Corp. | Reduce -51.9% | 1.07% | −0.86 |
| IBKR Interactive Brokers Gro Class A | Reduce -49.9% | 1.14% | −0.81 |
| KKR KKR & Co. Inc. | Reduce -29.9% | 1.65% | −0.61 |
| NVEI Nuvei Corp.-Subordinate VTG | Sold out | 0.00% | −0.57 |
| AY Atlantica Sustainable Infras | Sold out | 0.00% | −0.55 |
| GFL GFL Environmental Inc.-Sub VT | Sold out | 0.00% | −0.53 |
| BIDU Baidu Inc. - Spon ADR | Sold out | 0.00% | −0.52 |
| ENV Envestnet Inc. | Sold out | 0.00% | −0.52 |
| RCM R1 RCM Inc. | Sold out | 0.00% | −0.52 |
| PWSC Powerschool Holdings Inc. Class A | Sold out | 0.00% | −0.50 |
| ITI Iteris Inc. | Sold out | 0.00% | −0.50 |
| ARC Arc Document Solutions Inc. | Sold out | 0.00% | −0.41 |
| SRCL Stericycle Inc. | Sold out | 0.00% | −0.41 |
| PRFT Perficient Inc. | Sold out | 0.00% | −0.41 |
| SWN Southwestern Energy Co. | Sold out | 0.00% | −0.40 |
| PETQ Petiq Inc. | Sold out | 0.00% | −0.38 |
| INST Instructure Holdings Inc. | Sold out | 0.00% | −0.37 |
| AAN The Aaron's Co. Inc. | Sold out | 0.00% | −0.34 |
| KVACF Keen Vision Acquisition Corp. | Sold out | 0.00% | −0.32 |
| SHCR Sharecare Inc. | Sold out | 0.00% | −0.31 |
| TELL Tellurian Inc. | Sold out | 0.00% | −0.31 |
| GAQ Generation Asia I Acquisit-A | Sold out | 0.00% | −0.31 |
| SRDX Surmodics Inc. | Sold out | 0.00% | −0.30 |
| CPTN Cepton Inc. | Sold out | 0.00% | −0.29 |
| AUGX Augmedix Inc. | Sold out | 0.00% | −0.27 |
| GATO Gatos Silver Inc. | Sold out | 0.00% | −0.26 |
| ACI Albertsons Cos Inc. Class A | Sold out | 0.00% | −0.25 |
| STWD Starwood Property Trust Inc. | Sold out | 0.00% | −0.24 |
| VSTO Vista Outdoor Inc. | Sold out | 0.00% | −0.22 |
| HAYN Haynes International Inc. | Sold out | 0.00% | −0.21 |
| VGR Vector Group Ltd. | Sold out | 0.00% | −0.21 |
| PGRU Propertyguru Group Ltd. | Sold out | 0.00% | −0.21 |
| USAR USA Rare Earth Inc. | Sold out | 0.00% | −0.19 |
| AXONICS INC | Sold out | 0.00% | −0.17 |
| MTTR Matterport Inc. | Sold out | 0.00% | −0.15 |
| RENEF Cartesian Growth Corp. II- A | Sold out | 0.00% | −0.15 |
| CLBR.U Colombier Acquis Corp. II | Sold out | 0.00% | −0.15 |
| MSSAF Metal SKY Star Acquisition C | Sold out | 0.00% | −0.13 |
| RVNC Revance Therapeutics Inc. | Sold out | 0.00% | −0.11 |
| HSPOF Horizon Space Acquisition I | Sold out | 0.00% | −0.11 |
| PRLH Pearl Holdings Acquisition-A | Sold out | 0.00% | −0.10 |
| DLTR Dollar Tree Inc. | Reduce -95.3% | 0.00% | −0.09 |
| NORTHVIEW ACQUISITION CORP | Sold out | 0.00% | −0.09 |
| HCP Hashicorp Inc. Class A | Reduce -27.5% | 0.17% | −0.08 |
| AFBI Affinity Bancshares Inc. | Reduce -33.5% | 0.13% | −0.08 |
| CHUY Chuy's Holdings Inc. | Sold out | 0.00% | −0.08 |
Portfolio Buys Q3 2024 → Q4 2024
| PPLT Abrdn Physical Platinum SHRS | Add +100.0% | 13.36% | +5.51 |
| SANG Sangoma Technologies Corp. | Add +13.0% | 15.88% | +3.72 |
| LSPD Lightspeed Commerce Inc. | Add +10029.7% | 3.68% | +3.63 |
| MRVI Maravai Lifesciences Hldgs-A | New | 2.03% | +2.03 |
| MOH Molina Healthcare Inc. | Add +1906.2% | 1.88% | +1.76 |
| HXL Hexcel Corp. | Add +725.0% | 1.26% | +1.10 |
| DCBO Docebo Inc. | Add +28.9% | 4.38% | +0.75 |
| MKL Markel Group Inc. | New | 0.56% | +0.56 |
| ELV Elevance Health Inc. | New | 0.43% | +0.43 |
| GMAB Genmab A/S -SP ADR | New | 0.42% | +0.42 |
| BARNES GROUP INC | New | 0.41% | +0.41 |
| LPAA Launch One Acquisition Corp. | New | 0.39% | +0.39 |
| CDMO Avid Bioservices Inc. | New | 0.37% | +0.37 |
| ZUO Zuora Inc. Class A | New | 0.36% | +0.36 |
| BCOV Brightcove | New | 0.36% | +0.36 |
| ATSG Air Transport Services Group | New | 0.34% | +0.34 |
| PTVE Pactiv Evergreen Inc. | New | 0.33% | +0.33 |
| SCWX Secureworks Corp. Class A | New | 0.32% | +0.32 |
| USAP Universal Stainless & Alloy | New | 0.31% | +0.31 |
| CCRN Cross Country Healthcare Inc. | New | 0.30% | +0.30 |
| CTV Innovid Corp. | New | 0.29% | +0.29 |
| SMAR Smartsheet Inc. Class A | Add +197.5% | 0.43% | +0.27 |
| ML Moneylion Inc. | New | 0.27% | +0.27 |
| PFIE Profire Energy Inc. | New | 0.26% | +0.26 |
| SUM Summit Materials Inc. Class A | New | 0.26% | +0.26 |
| AE Adams Resources & Energy Inc. | New | 0.25% | +0.25 |
| EMKR Emcore Corp. | New | 0.18% | +0.18 |
| ROIC Retail Opportunity Investmen | New | 0.17% | +0.17 |
| PDCO Patterson Cos Inc. | New | 0.16% | +0.16 |
| PFC Premier Financial Corp. | New | 0.16% | +0.16 |
| VCSA Vacasa Inc. Class A | New | 0.12% | +0.12 |
| SILV Silvercrest Metals Inc. | New | 0.12% | +0.12 |
| TBNK Territorial Bancorp Inc. | Add +595.9% | 0.13% | +0.11 |
| BMTX BM Technologies Inc. | New | 0.10% | +0.10 |
| ALE Allete Inc. | Add +66.1% | 0.26% | +0.09 |
| FYBR Frontier Communications Pare | New | 0.09% | +0.09 |
| TONT Graf Global Corp. Class A | New | 0.06% | +0.06 |
| VMCAF Valuence Merger Corp. I Class A | Add +31.6% | 0.25% | +0.04 |
| VOXX Voxx International Corp. | New | 0.04% | +0.04 |
| AVNW Aviat Networks Inc. | New | 0.04% | +0.04 |
| ESGR Enstar Group Ltd. | Add +20.0% | 0.37% | +0.04 |
| AGS Playags Inc. | Add +24.6% | 0.26% | +0.04 |
| FROG Jfrog Ltd. | New | 0.03% | +0.03 |
| OMIC Singular Genomics Systems Inc. | New | 0.03% | +0.03 |
| WBS Webster Financial Corp. | Add +3.1% | 0.19% | +0.02 |
| JBL Jabil Inc. | Add +4.3% | 0.15% | +0.02 |
| LYTS Lsi Industries Inc. | Add +4.4% | 0.11% | +0.01 |
| FLR Fluor Corp. | New | 0.01% | +0.01 |
| AR Antero Resources Corp. | New | 0.01% | +0.01 |
| BBU Brookfield Business PT-Unit | New | 0.00% | +0.00 |
Notes & Other Activity Q3 2024 → Q4 2024
| ESPERION THERAPEUTICS (ESPR 4 11/15/25) | NOTE 4.000%11/1 · principal | Sold out | 40,429,000 | $52.9Mbefore exit |
| REVANCE THERAPEUTICS INC (RVNC 1.75 02/15/27) | NOTE 1.750% 2/1 · principal | Add +16.3% | 24,950,000 | $34.5M |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | New | 22,000,000 | $32.9M |
| SSR MINING INC (SSRMCN 2.5 04/01/39) | NOTE 2.500% 4/0 · principal | Add +15.8% | 21,987,000 | $30.4M |
| EQUINOX GOLD CORP (EQXCN 4.75 10/15/28) | NOTE 4.750%10/1 · principal | Reduce -5.5% | 15,999,000 | $25.4M |
| BANDWIDTH INC (BAND 0.5 04/01/28) | NOTE 0.500% 4/0 · principal | Reduce -45.9% | 11,500,000 | $13.3M |
| BEYOND MEAT INC (BYND 0 03/15/27) | NOTE 3/1 · principal | Add +46.8% | 58,050,000 | $13.1M |
| WOLF Wolfspeed Inc. (wolf 1.75 05/01/26) | NOTE 1.750% 5/0 · principal | New | 9,929,000 | $12.7M |
| CARDLYTICS INC (CDLX 1 09/15/25) | NOTE 1.000% 9/1 · principal | Add +100.4% | 9,018,000 | $11.7M |
| CABLE ONE INC (CABO 1.125 03/15/28) | NOTE 1.125% 3/1 · principal | Sold out | 5,000,000 | $5.5Mbefore exit |
| SPIRIT AIRLINES INC (SAVE 1 05/15/26) | NOTE 1.000% 5/1 · principal | Sold out | 10,850,000 | $4.6Mbefore exit |
| SUNNOVA ENERGY INTL INC (NOVA 0.25 12/01/26) | NOTE 0.250%12/0 · principal | New | 2,500,000 | $2.2M |
| IMSRW HCM II Acquisition Corp. - 29 | *W EXP 99/99/999 | New | 15,000 | $3K |
| VCICW Vine Hill Capital Class A-2 | *W EXP 07/01/203 | New | 12,500 | $3K |
| SIMAW Sim Acquisition Corp. - 29 | *W EXP 06/01/203 | New | 12,499 | $2K |
| SBXC.WS Silverbox Corp. III-28 | *W EXP 02/28/202 | Sold out | 333 | $45before exit |
| JWSWF Jaws Mustang Acq C -CW26 | *W EXP 01/30/202 | Sold out | 250 | $11before exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 203 | $222.1M | SANG, WEAT, PAR, CORN, ESPR |
| Q1 2026 | 204 | $216.7M | PPLT, CORN, TSAT, EQX, SANG |
| Q4 2025 | 193 | $260.5M | PPLT, EQUINOX GOLD CORP (EQXCN 4.75 10/15/28), ESPR, SLV, TSAT |
| Q3 2025 | 178 | $258.6M | PPLT, EQX, ESPR, PAR, TEUCRIUM WHEAT FUND |
| Q2 2025 | 131 | $179.3M | PPLT, SANG, PAR, BUR, WIW |
| Q1 2025Amended | 112 | $281.4M | FROG, CPA, TBNK, HXL, FET |
| Q4 2024 | 107 | $223.4M | SANG, PPLT, PAR, BUR, WIW |
| Q3 2024 | 119 | $193.3M | SANG, PAR, PPLT, BUR, WIW |
| Q2 2024 | 110 | $170.1M | SANG, PAR, BUR, NAD, PPLT |
| Q1 2024 | 98 | $197.1M | SANG, BUR, PAR, XEMDX, NAD |